Instead it started the session dipping 0.1% against the dollar, taking it just below $1.352 – admittedly still not far off its recent 9 week peak – and 0.3% against the euro, leaving it a smidge above €1.133.
How the FTSE and pound perform as the day goes on will likely be dependent on the state of November’s manufacturing PMI. Analysts are expecting a slight increase, from 56.3 to 56.6 month-on-month; if accurate that’d be the best reading in 3 months, and could help sterling pick up where it left off yesterday.
Elsewhere the Eurozone indices all opened in the red as the euro pushed higher against the dollar and the pound. Like in the UK, the region’s main focus will be on manufacturing, with the Eurozone-wide PMI forecast to come in at a very impressive 60.0.
Connor Campbell, Spreadex